"There is no major retail development in Pflugerville," Jim Garza, a manager with Las Vegas-based American City Neighborhood Development, tells GlobeSt.com about yesterday's closing. "You have your averages of retail and office space that typically follow residential development, but the margins in Pflugerville tell us that retail has not kept up with residential construction."
That means there is no major store like a Beall's or a Weiners, no major arts-and-crafts store like a Michaels and no major athletic club, Garza says. The area also has yet to snag a family fun center or a national restaurant. And it could use a second grocery store chain, given the number of rooftops rising in the area, Garza says.
The developer hopes to break ground on Pfluger Town Center by first quarter 2002, with the intention of rolling out three phases in back-to-back annual projects. That rate could be faster with demand, Garza says. The proposed tally on the site is 214,000 sf of retail space and 162,000 sf of office space.
Garza anticipates the center will be grocery-anchored. Plans call for five primary users, needing 10,000 sf to as much as 65,000 sf apiece. The site will also have two two-story office buildings and three office pads.
Pfluger Town Center is located on the southeast corner of Old Settlers Valley Road and FM 1825 (Pecan Street). The retail location, Garza says, is strategically located near the post office and a couple of schools, with 2,200 feet of frontage on FM 1825. Garza says the site also has good north-south access with Heatherwilde and Windemere.
The proposal will go before Pflugerville City Council in the next month for zoning changes. Garza does not anticipate a problem in getting the zoning changed, saying that most reviewers believe the site is a prime candidate for general business use.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
